The offer of entrepreneurship is not only sufficient on an economic level, but also on a social level, as apart from the fact that entrepreneurship is the main support of the economy, it also contributes to other parameters such as the reduction of unemployment. Nowadays, the increase in the unemployment rate, the general socio-political crisis and new technologies have created new opportunities in the labor market for many young people in Greece. Our youth should look for other employment solutions, especially youth entrepreneurship, to contribute to the reduction of unemployment and economic growth. Entrepreneurship is clearly a different type of employment. Youth entrepreneurship refers to the activities of people between the ages of 18 and 34. It is clearly a very creative age and requires a combination of high levels of willpower and diligence so that young people can cope with whatever difficulties they encounter in the course of business.
Nevertheless, in the unpredictable times in which we live, the fear of failure prevails, where it prevents young people from practicing entrepreneurial activity. Finding resources combined with a number of factors is a difficult task for the development of young entrepreneurship. This is due to the suffocating conditions of lack of liquidity and the lack of financing of new entrepreneurs. More generally, in Greece the fear dominates, that in case of failure, there is difficulty in restarting the business activity, due to the fact that the cost of failure is quite high. Fearing both the cost of restarting the business and whether their knowledge and skills are sufficient, young entrepreneurs express a reservation toward entrepreneurship.
However, it has been proven through various researches that young people show a greater ability to perceive business opportunities. Combining their academic and experiential knowledge, combined with their technological knowledge, leads to higher performance in terms of business opportunities compared to their elders. Indeed, young people are more technologically savvy than older people. They can more easily perceive changes in technology and better understand the needs of their generation. Therefore, the combination of all of the above enables them to head towards more innovative business ideas.
We realize that to avoid the fear of failure, the immediate action of the state is required, providing financial assistance to the business ideas of young people. Apart from that, of course, education should be a key part of the success of young entrepreneurship. Education is what will contribute to young people acquiring business ethics and conscience. Through education, young people will understand the basic elements of the concept of entrepreneurship and will be able to start their business venture, without the feeling of doubt. Based on the above, we understand that young entrepreneurship, despite the doubts wherever they prevail, can become an aid to economic and social development.